Widely followed macro analyst Lyn Alden believes that central banks and sovereign wealth funds would be making a mistake if they are not looking into Bitcoin (BTC). In a recent interview, Alden spoke about the increasing adoption of cryptocurrency in various countries and the potential it has in becoming used more widely around the world. She notes that some countries have a stronger incentive to embrace cryptocurrencies and how this provides them with an advantage over larger countries.

Alden is of the opinion that Bitcoin is already being used as a global currency by individuals in several countries such as Nigeria, Argentina, and Lebanon. However, the instability and lack of liquidity of Bitcoin makes it difficult for global financial and governmental organizations to take it seriously. Yet, Alden believes that once it becomes more stable and widely used, it could be used in a meaningful way by them.

The fact that certain countries have a stronger incentive drive them to embrace cryptocurrency earlier is indicative of the potential it possesses. Alden cited the example of El Salvador and North Korea as places that have already been experimenting in cryptocurrency and its uses. She also remarks that cryptocurrency can have a useful purpose, just like drug dealers did when they adopted pagers in the eighties.

Overall, Alden believes that central bankers and sovereign wealth funds will be wise to pay attention to and study the trends in cryptocurrency. With its increasing popularity and growing use in various parts of the world, it is bound to become relevant on a global scale eventually.



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